In a move that could potentially revolutionize the way cryptocurrencies are used on messaging platforms, Grindery, a smart wallet solution backed by Binance Labs, is set to unlock one-click payments for the 800 million users of Telegram. By leveraging account abstraction and bootstrapping liquidity for TON-based tokens and decentralized applications (dApps), Grindery aims to simplify digital asset transactions on the popular messaging platform. Account abstraction is a crypto technology that allows users to store assets exclusively in a blockchain smart contract rather than an Externally Owned Account (EOA), unlocking programmable features and enhanced security.
Grindery’s primary objective is to simplify crypto transactions for Telegram’s vast user base by substituting alphanumeric blockchain addresses with human-readable names. The account abstraction-focused startup believes this approach will foster user confidence and enhance the utility of tokens available on Telegram across EVM-compatible blockchains such as Ethereum, Binance Smart Chain, and Polygon. Tim Delhaes, the founder of Grindery, expressed excitement about the project’s potential, stating, “Seeing Telegram transform into a SuperApp with TON Chain is thrilling. Grindery is complementing Telegram’s vision, bringing the massive existing EVM ecosystem into Telegram, and delivering native web3 experience to a billion Telegram users.”
In addition to its focus on Telegram, Grindery is also targeting mainstream merchants and e-commerce stores, aiming to deliver one-click payments designed to onboard multitudes into web3 marketplaces. This ambitious goal aligns with the broader push for greater cryptocurrency adoption and seamless integration into everyday transactions. As the cryptocurrency ecosystem continues to evolve, solutions like Grindery that bridge the gap between traditional platforms and decentralized technologies could play a pivotal role in driving mainstream adoption.
